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Jennie Electric manufactures several products, including an electric garage door opener called the Door Magic. Door Magies are completely processed in one department and are then transferred to the finished goods warehouse. All manufacturing costs are applied to Door Magic units at a uniform rate throughout the production process. The following information is available for July: Summary of Units Beginning Work in Process (100% complete as to direct materials and 80% complete as to conversion costs) 400 Units started Units completed and transferred to finished goods 1,900 Ending Work in Process (100% complete as to materials and 70% complete as to conversion costs) 300 1,800 Summary of Costs Beginning Work in Process: (direct materials $4,600, conversion costs $20,220) $ 24,820 Manufacturing costs incurred in July: Direct materials 53,700 Direct labor Factory overhead Total to account for $168,020 32,220 57.280 Instructions: a. Prepare a cost of production report for the month of July using the FIFO Method. Instructions: a. Prepare a cost of production report for the month of July using the FIFO Method. Jennie Electric Cost of Production Report FIFO July Equivalent Units Materials Conversion Beg WIP Add Units Started Units to account for 2200 Ending WIP Units transforred out 1800 1790 Units accounted for Equivalent Units Costs accounted for as follows: Details Total Costs Materials Conversion Beginning WIP Current costs $29.8333 $50.00 Costs to account for Equivalent Units Current Cost per equiv. unit Costs accounted for as follows: Units completed & transferred out From Beg. WIP Current Costs Cost of Units Completed Ending WIP: Costs accounted for $148,570 $19,450

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